JOB TYPE: Full-time
LOCATION: Dammam
SUPERVISOR/MANAGER: The Factory Accountant will report directly to the Finance Manager.
Main Duties/Responsibilities
- Prepare and maintain accurate financial records, including general ledger, accounts payable, accounts receivable, and inventory records for the factory operations.
- Conduct regular reconciliations of all factory-related financial accounts to ensure accuracy and compliance with accounting standards.
- Analyze and process invoices, purchase orders, and other financial documentation related to the factory's operations.
- Assist in the preparation of monthly, quarterly, and annual financial statements, including profit and loss statements, balance sheets, and cash flow statements.
- Collaborate with the production and inventory management teams to ensure proper cost accounting and inventory valuation.
- Monitor and analyze factory-specific costs, such as raw materials, labor, and overhead expenses, to identify areas for cost optimization.
- Prepare and submit accurate and timely tax returns and other financial reports for the factory's operations.
- Participate in the annual budgeting and forecasting process for the factory, providing input and recommendations.
- Implement and maintain internal controls and procedures to safeguard the factory's financial assets and ensure compliance with relevant laws and regulations.
- Assist in the preparation of financial audits and respond to inquiries from internal and external auditors.
- Provide financial and accounting-related guidance and support to the factory management team.
- Stay informed about changes in accounting standards, tax regulations, and industry best practices that may impact the factory's financial operations.
- Collaborate with the corporate finance team to ensure alignment and consistency in financial reporting and procedures.
Qualifications
SKILLS & EXPERIENCE:
- Bachelor's degree in Accounting, Finance, or a related field.
- Professional certification, such as Certified Public Accountant (CPA) or Chartered Accountant (CA), is highly preferred.
- Strong understanding of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Experience
- Minimum 8-10 years of experience as an Accountant, preferably in a manufacturing or industrial setting.
- Demonstrated expertise in cost accounting, inventory management, and financial reporting for factory or production-based operations.
- Hands-on experience in the preparation and analysis of financial statements, budgets, and forecasts.
- Knowledge of enterprise resource planning (ERP) systems and financial software utilized in the manufacturing industry.
- Familiarity with tax regulations, compliance requirements, and internal control procedures for factory operations.
Soft Skills
- Strong analytical and problem-solving skills to identify and resolve financial issues.
- Excellent attention to detail and commitment to accuracy in financial reporting.
- Effective communication and interpersonal skills to collaborate with cross-functional teams.
- Ability to work under pressure and meet deadlines while maintaining a high level of accuracy.
- Adaptability to changes in accounting standards, regulations, and business requirements.
- Strong organizational and time management skills to handle multiple tasks and priorities.
Technical Skills
- Proficient in using financial accounting software, spreadsheet applications, and other relevant technology tools.
- Expertise in cost accounting methodologies, including standard costing, job costing, and activity based costing.
- Familiarity with inventory management and valuation techniques, such as FIFO, LIFO, and weighted average.
- Strong understanding of internal control frameworks and audit procedures.
- Competence in performing financial analysis, variance analysis, and trend identification.
- Ability to interpret and apply relevant tax regulations and compliance requirements
